- What is the purpose of this project?
- Who is leading the effort?
- What results has the REDI program produced?
- How does this benefit our regional community?
- Who will be involved in REDI?
REDI is a regional partnership for economic development jointly developed seven northern New Mexico local governments and the eight northern Pueblos. REDI’s geographic area includes Los Alamos, Rio Arriba, Santa Fe and Taos counties. Through a Regional Economic Development Strategic Plan, REDI has identified and implemented concrete economic development projects that are improving the economy and quality of life in the four-county region over the next 25 years.
The Regional Development Corporation (RDC) is the contractor for the project, and is partnering with the North Central NM Economic Development District (NCNMEDD) and other regional organizations. The core project team consists of RDC Executive Director Kathy Keith, and RDC Project Manager Eric Vasquez.
In August, 2013 the five-year State of the Region Summit was held at Ohkay Owingeh. To view an overview of the Summit, please visit this page.
Cluster Development Update:
Cluster strategies have been developed to pursue economic development in high paying industries in Technology cluster, Value-added Agriculture, Green Industries, and New Media & Film. These strategies continue to move forward, with advancements made in Technology, Value-added Agriculture and Media. In August 2013 the REDI Partners opted to add an additional economic cluster and also target Outdoor Recreation Equipment. Read the full report here (pdf).
REDI staff is keenly focused on implementing the recommendations that public sector partner communities and private sector businesses have said are of the highest priority including:
- Regional Broadband (REDINet). REDI provided key support in securing $74 million in federal grants for the REDINet broadband infrastructure, which went live in 2013.
- Business-Friendly Policy. REDI efforts led to the amendment of the Local Economic Development ACT (LEDA) in 2009, allowing local governments to dedicate up to 10% of annual general fund expenditures on economic development projects. It has also worked with local governments in developing local suppliers preferences to help grow our local businesses.
- Economic Development Services, Attraction. REDI has formed strategic alliances with the State’s lead business recruitment agency, the New Mexico Partnership, and the region’s economic driver, Los Alamos National Laboratory. Other partnerships include creating a Certified Communities Cluster for the Rio Arriba and Espanola area and aiding other regional partners to grow the region’s economy.
- Economic Development Services, Creation. REDI manages the LANL-funded Los Alamos Connect and Northern New Mexico 20/20 Initiative, helping dozens of new businesses each year and highlighting high-growth businesses that are creating jobs and bringing additional revenue to our region.
- State of the Region Summit – REDI Economic Report Card. REDI developed baseline benchmarks to measure the accomplishments of our partnership over the long-term. This five-year mark took a look at the state of the region and was held in August, 2013 at Ohkay Owingeh. Visit this page for more information.
The public sector benefits from REDI because:
- Economic Regions are right-sized geography.
- REDI is helping the region compete for federal and other grant funds for economic development that no one else is seeking.
- Combined resources enhance national appeal.
- Economic development inputs such as infrastructure, workforce, business support services and public policy require regional solutions and capacities.
- Strategic plan alignment eliminates needless competition and duplication.
- Shared Economic Development services are cost-effective.
- Economic Development investments create new businesses, jobs, and tax revenues.
The private sector benefits from REDI because:
- Economic Development programs protect corporate investments in the region.
- Economic diversification keeps tax rates low.
- Education and workforce programs improve the quality of the labor pool.
- Corporate voice in regional economic development policy and visibility as community-oriented leader.
- REDI provides companies with timely information and valuable contacts.
- Cluster initiatives strengthen competitive advantages.
Los Alamos County has signed cooperative agreements with seven county and city governments in the four-county region for Progress through Partnering initiatives. One of these initiatives is the REDI program.
Everyone in the community has a stake in its economic success. In addition to local governments, key stakeholders include economic development and workforce development organizations, chambers of commerce, unions, institutions of higher education, major private sector entities, school districts and federal and state agencies.
REDI staff is meeting with stakeholders from all of these groups to formalize a public-private partnership among these groups to continue the work that has been undertaken. For further information about REDI Membership, contact Eric Vasquez.